Peter Way PSM Chair NAMS.AU - IPWEA Implementing ISO to Enhance Management of Assets

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1 Engineering Management Peter Way PSM Chair NAMS.AU - IPWEA Implementing ISO to Enhance Management of Assets

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3 Implementing ISO to enhance Management of Assets Can these new ISO Standards help you better manage your assets? ISO Asset management Overview, principles and terminology ISO Asset management Management System - Requirements ISO Asset management Management systems - Guidelines on the application of ISO 55001

4 Some Key Questions What benefits will the standards deliver? How will they integrate with other management systems? How difficult might they be to implement? How costly? Will they create a stimulus for new guidance and practice? What are the implications for your organization?

5 Some Key Issues The Standards are about a MANAGEMENT SYSTEM for asset management What to do NOT How to do it Can be applied to ANY assets not just Physical assets Each organization determines scope - which assets involved Asset Lifecycle approach- Life Stages to suit each organization Strong focus on risk management

6 AM System What is it? NOT a Software System NOT an Information Management System It IS a framework or set of tools, including; policies, plans, business processes and information systems, which are integrated to deliver the asset management activities The am system coordinates contributions from and interaction between the many functional units within an organization impacting on asset management

7 Assets are only there for the VALUE they can provide! We realize VALUE Through managing risk and opportunity To achieve BALANCE of cost, risk & performance AM uses risk based approach to translate organizational objectives into asset related decisions, plans/activities Cost Sustainable value Performance Risk

8 Balancing the Cost versus Performance Affordable costs Desired Level of Service Risk management

9 Benefits of an AM System During Creating the AM System Identify risk reductions, process improvements Improve knowledge, decision making New ideas on value creation Stimulate cross functional improvement For Top Management Better understanding of assets and their role Improve communication and interaction across functions Longer term and sustainable decision making Better understanding and integration of the many factors affecting AM implementation

10 Benefits of an AM System (Cont d) Financial functions Better integration between am information and financial information - long term financial planning Improved assessment of financial position and funding Common taxonomy possible Other Parts of Organization Human resources for competencies needed Better data integration and new sources Improved quality of asset information Better involvement of internal and external stakeholders Stimulate creativity and innovation

11 What will the Standards deliver?

12 The ISO Requirements Context of the Organisation Leadership and Commitment Planning for both the AM System and AM Support for both the AM System and AM Operation and Control Performance Evaluation Improvement

13 Meeting all these Standards requirements seems daunting!

14 ISO 55000: The W hat IPWEA: The How

15 The International Infrastructure Management Manual (IIMM) (fourth edition), has evolved over many years. New Edition coming! Widely accepted as the international leading document on infrastructure AM. The IIMM provides valuable guidance to organizations on how to implement good AM practice for infrastructure assets. Includes over 100 case studies demonstrating good practice across a wide range of assets and countries. The IIMM

16 Free ISO Quick Guide Matches the ISO What to do with the How To Get There of the IIMM Download at

17 Conformance Issues

18 To Certify or Not for Conformance? What will your stakeholders expect? What are the costs/benefits? Concern regarding the competence of Auditors in the AM MS field IPWEA involved in establishing a technical evaluation process for AM Auditors JAS-ANZ about to approve first CABs in Australia.

19 Conformance Certification Considerations As with other ISO standards, many organizations may choose not to seek formal certification Certification can be an expensive and time consuming process As a minimum be aware of these new standards look at opportunities to align with and embed the principles of the standards within the organization Helps bring structure and consistency to the practice of asset management Makes the processes stronger over time.

20 IPWEA Policy on the ISO Standards All infrastructure orgs should consider for benefits from applying a MS approach Governments to promote at level appropriate to business/community needs Not prescriptive apply to those assets and at level appropriate to stakeholder needs Not just for compliance part of overall management approach Orgs to decide on appropriate level of certifying compliance

21 IPWEA ISO Maturity Assessment On line tools to allow an assessment of how well aligned your organisation is to the ISO Standard Guidelines for accessing and utilizing the tools Self assess or with independent support for greater transparency Annually but can be reviewed/updated.

22 ISO AM Standards Maturity Assessment Webinars Two 60 minute webinar sessions Register to access recorded copy of webinars Provides access to the maturity assessment tools asset/home/

23 IPWEA ISO AM Maturity Assessment

24 Example of Questions Source, Impact, Maturity, Target, Importance, Notes.

25 Maturity Reporting Charts

26 Other Report Formats As well as the radar charts, other report formats include; bar charts (Summary and detailed) Maturity Gap Priorities (Summary and detailed) Comparison (Summary and detail) A Maturity Report (Can be cut and pasted into an external document)

27 Continual Improvement is the Goal

28 Audit and Monitor

29 Conclusions Aim to maximise value from your AM by following a management systems approach. Use ISO to test how well you align. Use the many tools and resources available to assist you in that process..

30 Questions? Peter Way PSM